A royal commission of inquiry was established in 2021 to examine Lembaga Tabung Haji’s management, operations and asset-related issues from 2014 to 2020. PETALING JAYA : The financial practices uncovered at Lembaga Tabung Haji (TH) amount to a massive and diabolical Ponzi scheme, says former Association of Chartered Certified Accountants Malaysia advisory committee president Khalid Ahmad. “It is diabolical in the sense that there was an intention to deceive, in other words, to scam. He also questioned what TH had achieved for Bumiputera economic development despite holding close to RM100 billion in deposits. The RCI found that TH faced a serious financial crisis in 2017 and used “creative accounting” to support high hibah payments.